Pan-African fintech company MFS Africa has unveiled a major rebranding, changing its name to Onafriq. The company announced the rebrand in a statement, citing its extensive growth and vision to unify Africa’s digital payments landscape.
MFS Africa was previously named after its initial mobile financial services offering. However, acquisitions like GTP have expanded its reach beyond Africa into global markets like the US. The existing MFS brand faced limitations abroad, where another company held the trademark.
According to CEO Dare Okoudjou, Onafriq better reflects the company’s evolution into an omni-channel platform spanning the continent and beyond. He stated, “As we embark on the next chapter, we wanted a name that symbolises our mission to connect all of Africa into one integrated network of networks.”
Now rebranded as Onafriq, the company describes itself as an “omnichannel network of networks” that provides partners with a single mechanism for enabling cross-border, cross-platform payments. Onafriq claims a reach of 300,000 agents, 500 million mobile wallets, and 200 million bank accounts across 40 African countries.
This vast digital infrastructure powers services like cross-border remittances, card issuing, agency banking, and more. Onafriq connects global enterprises, telecoms, banks, fintechs, NGOs, and retailers via its platform. With strong regulatory capabilities and an African presence, Onafriq aims to open participation to more users.
According to the company, the rebrand signifies its evolution beyond mobile financial services into a broader pan-African payments ecosystem. Onafriq combines the Yoruba word “Ona”, meaning paths, and French “Afrique” for Africa. The name invokes the vision of a borderless One Africa, where access unlocks potential.
Founder Okoudjou set the ambitious goal to build a 100-year payments infrastructure across the entire continent. Onafriq’s unifying platform aims to make borders matter less for seamless money flow.
Africa’s fragmented payments landscape today hampers cross-border transactions and trade. By removing these barriers, Onafriq seeks to boost economic growth and empowerment.
The company invites partners and stakeholders across Africa to join it on an exciting journey of innovation and collaboration. Together, they can develop solutions that make borders matter less for millions of Africans.
With the rebrand to Onafriq, the company signals its growth into a true pan-African payments leader. By unifying diverse financial networks, Onafriq seems ready to deliver greater financial access and integration that empowers African individuals and businesses.